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In a goal to make digitally-native assets more accessible to investors, Fidelity Digital Asset Services will be a place to trade and custody crypto with advisors, hedge funds, and family offices very much in mind. Fidelity currently has more than $7.2 assets under administration. The offering will likely compete with NYSE's Bakkt and OTC desks run by DRW/Cumberland and Circle.
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Whatever the immediate outcome, the play for cryprocurrency is going to play out over the long haul, and Fidelity will be deeply involved, Johnson says. "We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use.”
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